Matrix Multifamily Indianapolis Report-April 2023 April 27, 2023

Indianapolis Maintains Momentum

Indianapolis had a promising start to the year. Transactions totaled $93 million, up 32.8% year-over-year, following a record 2022. Rent growth remained above the national average, up 0.1% on a T3 basis to 9.0% year-over-year. And with 6,165 units under construction and 240 units delivered in the first two months of the year, 2023 construction could top the city’s five-year average.